"Non-Dischargeable" Debts
General rules are sometimes taken for gospel, when in fact the bankruptcy code is full of specifics, exceptions, and exemptions.
Two common examples are the popular perceptions that student loans and tax debts are not dischargeable in bankruptcy.
It's true that there are significant restrictions on the discharge of each of these types of debt, but they are not absolute.
Student loan debts may be dischargeable if the debtor initiates an adversary proceeding to demonstrate that being required to pay the student loans would constitute and "undue hardship". And while tax debts incurred within the three years prior to filing are generally not dischargeable, some back taxes more than three years old are subject to discharge.
The bottom line: don't make assumptions. If you're in doubt, talk to a bankruptcy attorney about your specific circumstances and get accurate information to help you make your decisions.
What if something surfaces after filing for bankruptcy? something you were unaware of?
can a judgement be filed in a bankruptcy
I don't mind if my student loans get taken off or not, but I am worried about debt that is not on my credit report yet, but it is something that I accumulated over the last few years when I had my own business, a sole proprietorship. Am I worried about nothing, or can they go after me for this business debt eventually?